For All of Your Bonding Insurance Needs

When you need a bond, the steps involved can be daunting and confusing. Call our bond experts who will lead you step-by-step through the bonding process.

—George & Carol Reese Henry D. Young, Inc. Insurance Agency

Insurance Products / Surety, Fidelity and Contract Bonds

A bond is a three party agreement that guarantees the fulfillment of a legal obligation. To simplify, a third party (surety) guarantees to a second Party (obligee or owner) the successful performance of the first party (the principal). Basically, a bond is an extension of credit. Surety company underwriters evaluate risk in ways much like a bank evaluates a loan application. They take into consideration the type of business operation, personal financial statements, credit reports, credit references, job references, company performance and expertise.

Surety bonds include numerous types of bonds such as court judicial, court fiduciary, public official, license and permit, and many miscellaneous bonds that include guarantees of financial performance. Some types of surety bonds are administrator bonds and guardianship bonds.